The number of people who owe over $100,000 in credit card debt is a lot higher than you might think. In this case, a consumer owed over $175,000 in debt that was spread across 25 different credit cards.

The basic problem: Too many credit cards make it easy for spending to get out of control. You may not even realize how high your debt is when it’s spread across multiple cards.

To avoid this problem: Limit yourself to only one or two credit cards. This keeps you aware of what you owe at all times. It also puts a more reasonable cap on the amount of money that you can access on your credit cards.

Additional resources for people with too many credit cards:

• How Many Credit Cards is Too Many?
• To Cancel or Not to Cancel Credit Cards
• The Risks of Too Many Credit Cards
• Cut Up your Credit Cards (or Make Them Inaccessible)